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LIGAND ANNOUNCES RECENTLY FILED SHAREHOLDER DERIVATIVE LAWSUIT

October 14, 2005

Ligand Pharmaceuticals Incorporated today announced that the company, each member of the Board of Directors and certain officers previously named in ongoing shareholder litigation have been named as defendants in a shareholder derivative lawsuit alleging breach of fiduciary duty and requesting disgorgement under the Sarbanes-Oxley Act of 2002. Ligand believes that the allegations in the lawsuit, like those in the existing derivative and class action lawsuits, are without merit and intends to vigorously defend against them.
Genetic Engineering News